L3 Announces Business Segment Realignment

NEW YORK--(BUSINESS WIRE)--L3 Technologies (NYSE:LLL) announced today that the company is
realigning its business segments to maximize growth and improve its
integration and collaboration across the enterprise.

Effective immediately, Aerospace Systems will combine with Sensor
Systems to form the new Intelligence, Surveillance & Reconnaissance
(ISR) Systems segment, which will heighten L3’s focus on developing and
delivering best-in-class global ISR and signals intelligence (SIGINT)
solutions. The segment will be led by Jeffrey A. Miller, corporate
Senior Vice President and President of Sensor Systems, and have combined
estimated 2018 sales of $4.7 billion. Mark R. Von Schwarz, President of
Aerospace Systems, will retire from the company after the transition is
complete. L3’s Electronic Systems and Communication Systems segments
remain unchanged.

Mr. Kubasik continued, “This business realignment action supports our
objective to improve operating margin to 12% for 2019.” The company
reaffirms its consolidated 2018 financial guidance provided on July 26,
2018. Commencing in the third quarter of 2018, L3 will report its
results under the realigned business segments.

L3 Technologies is an agile innovator and leading provider of global
ISR, communications and electronic systems for military, homeland
security and commercial aviation customers. With headquarters in New
York City and approximately 31,000 employees worldwide, L3 develops
advanced defense technologies and commercial solutions in pilot
training, aviation security, night vision and EO/IR, weapons, maritime
systems and space. The company reported 2017 sales of $9.6 billion.

To learn more about L3, please visit the company’s website at www.L3T.com.
L3 uses its website as a channel of distribution of material company
information. Financial and other material information regarding L3 is
routinely posted on the company’s website and is readily accessible.

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